A beachfront villa at Six Senses Palm Jumeirah has been sold for AED 130 million ($35.4 million), marking a milestone in Dubai’s booming branded real estate market. The sale, announced by Dubai Sotheby’s International Realty, is the highest transaction recorded within the project and secures the villa’s position among the top ten most expensive branded properties sold in 2024.
A New Benchmark in Luxury
The five-bedroom Signature Villa, adorned with premium Italian marble and sustainable teakwood finishes, offers unparalleled luxury. Managed and serviced by Six Senses, it provides residents with access to world-class resort amenities. The villa is scheduled for completion by October 2025, further raising the bar for Dubai’s branded real estate sector.
George Azar, CEO of Dubai Sotheby’s International Realty, emphasized the global appeal of branded residences:
“Super prime branded residences have become one of the driving forces in the global real estate market, attracting the attention of buyers in key cities like Miami, New York, and London.
“For high-net-worth individuals, branded residences provide a sense of assurance as they know they will be getting superior quality of design coupled with the highest standards of service.
“Dubai, which has become an epicentre for luxury living, holds the distinction for having the highest number of branded residences in the world and continues to set new benchmarks in that very exclusive space.”
Branded Residences on the Rise
The branded real estate sector in Dubai is experiencing unprecedented growth, with AED 28.8 billion ($7.8 billion) in sales recorded in the first half of 2024. This accounts for 12.6% of Dubai’s total real estate transactions and reflects a 44% year-on-year increase in transaction volumes.
Developers are leveraging globally recognized brand names to distinguish their projects in a competitive market, driving a 43% increase in new branded projects between June 2022 and June 2024. This trend includes 17 new launches totaling 7,262 units in the first half of 2024 alone.
Lana Gorbach, Associate Director at Dubai Sotheby’s International Realty, who managed the record-breaking sale, explained the allure of branded properties:
“For discerning buyers in today’s market, there is perhaps only one thing more significant than a prime location – the prestige of a globally recognised brand.
“The Six Senses Palm Jumeirah offers precisely that irresistible combination. With the twin advantages of the Six Senses brand’s renowned hospitality and an enviable beachfront address on Palm Jumeirah, this villa represents an unparalleled investment opportunity in Dubai’s super-prime market.”
Dubai’s Prime Real Estate Sector
This summer, Dubai Sotheby’s International Realty set another record by selling a villa on Jumeirah Bay Island for AED 175 million ($47.6 million). They also facilitated the most expensive villa sale in Abu Dhabi, valued at AED 130 million ($35.4 million).
The branded residences boom underscores Dubai’s growing appeal as a global luxury real estate hub. The city’s ability to attract high-net-worth buyers through its iconic developments and prime locations continues to fuel its real estate market’s upward trajectory.
